EUR/USD Forecast: long as the price remains below this level

a-3Wave Analysis

During the previous trading day, euro traded intensely to the lowerside and even went below the hour support level 1.1416. As long as the price remains below this level, we expect further momentum to the lowerside with an ideal target at 1.1306 towards 1.10. And on the bullish side, only a clear break above this week’s highest high will push the price upwards towards 1.1530. As it is on the hourly chart, we’re looking for a long term short position below 1.1305 towards 1.10 and should break below 1.01.

Trade Recommendations:

We’re short

We're short

Origin: FreshForex

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